Ansarollah Website - Follow-ups 

Economic experts confirmed to CNN that the high costs associated with the war have burdened families in developed economies, forcing consumers to reduce their savings to maintain their living standards as a direct result of the high costs stemming from the Iranian war.

In an interview with the program "Connect the World," Paul Donovan, chief global economist at UBS Wealth Management, said, "Companies are effectively passing on the high costs to the end consumer." He explained that consumers in developed markets have resorted to reducing their savings and decreasing the amount of money they save monthly in order to cope with the high prices and cover their expenses.

These statements come at a sensitive time, witnessing a continuous decline in consumer confidence within the United States, which reached its lowest level ever this month. Experts attribute this collapse in confidence to the disruptions in global energy markets resulting from the ongoing closure of the Strait of Hormuz.

Donovan also warned that the sharp rise in energy prices will leave households with less room to spend on other goods and services, as consumers will prioritize paying their high fuel and utility bills.

He indicated that the real crisis will begin when consumers stop reducing their savings (because they will run out), emphasizing that "that's when consumers will start reducing their actual consumption to cover the high energy costs."